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(CNN)   US natural gas prices hit a 14-year high on news your Uncle Fred gets off on withholding   (cnn.com) divider line
    More: Followup, Natural gas, Natural gas futures, natural gas, United States, highest closing price, European Union, Europe's natural gas crisis, Natural gas prices  
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394 clicks; posted to Business » on 18 Aug 2022 at 10:05 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



8 Comments     (+0 »)
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2022-08-18 10:08:19 AM  
I got a flyer from Scana Energy yesterday advertising their 12-month fixed rate at $0.94.  I think I'm currently paying $0.35, but this contract runs out in February.
 
2022-08-18 11:14:37 AM  

Rapmaster2000: I got a flyer from Scana Energy yesterday advertising their 12-month fixed rate at $0.94.  I think I'm currently paying $0.35, but this contract runs out in February.


I switched to a three year fixed price last, around $0.42 as I recall.  Looks like I made the right call.
 
2022-08-18 11:36:43 AM  
I would have to look up my rate, but even if the prices tripled, my monthly bill wouldn't break $75.  NG prices won't have much impact on electricity here. With two heat pumps for the house, that's what really matters.
 
2022-08-18 11:46:36 AM  
Fossil Fuel Industry: "They've caught on to our gas price gouging. Quick! Find something else to gouge the plebs with!"
[Natural Gas Prices skyrocket]
 
2022-08-18 12:24:40 PM  
When remodeling my house, I'm glad that I replaced all of my gas appliances with electric.  The price of gas had too many wild swings for my liking and the base delivery charge had crept up too high.  Meanwhile, the price of electricity has barely crept up at all in my area.

Also, in the event that electricity prices do climb too high, I can just throw a PV solar system on the roof to offset some of my usage.  Last I checked, installing a bio-reactor and generating my own methane really isn't a feasible option.  <insert Thunderdome reference here>

That said, the bit in the article that caught my eye was this: Thummel pointed to how US oil and gas producers are under pressure from Wall Street to spend less on expensive drilling projects and more on dividends and buybacks to shareholders.

We really should be taxing the living fark out of stock buybacks to discourage such behavior.
 
2022-08-18 2:19:15 PM  
When I built my new house, after the first year I got put on a budget where they average your first year and then you pay the same amount every month and then they reevaluate every 6 months or a year. I pay $45 a month, and I believe based on usage (gas range, gas fireplace, gas fire table outside, and heat) I am way over on what I've paid versus what I've used, so I'll either get a refund or have months where I pay nothing, so I won't notice any change in prices and I am sure they will go back down shortly like everything else.
 
2022-08-18 2:53:22 PM  

germ78: Fossil Fuel Industry: "They've caught on to our gas price gouging. Quick! Find something else to gouge the plebs with!"
[Natural Gas Prices skyrocket]


Thankfully, they lowered prices by about 95% in June 2020, so that was nice of them I guess.

Or maybe, just maybe, the prices are determined by supply and demand.
 
2022-08-19 6:58:03 AM  
And yet it is still cheaper to use my "backup" gas heating than use my heat pump in the winter.
 
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